Web3: Charting the Internet's Next Economic and Cultural Frontier

by Alex Tapscott

An essential introduction and guide to navigating the next Internet revolution—everything from the metaverse and NFTs to DAOs, decentralized finance, and self-sovereign identity—from the co-author of the international bestseller Blockchain Revolution. The Internet is entering a new age. We’ve moved from the “Read-only Web,” which had little functionality for interacting with content, to the “Read-Write Web,” which offered seemingly endless collaborative opportunities, from sharing with our favorite people to shopping at our favorite brands. But the profusion of cyberattacks, data hacks, and online profiling have left many of us to view digital life as a Faustian bargain in need of a major rethink. That rethink is Web3, the “Read-Write-Own Web”—a decentralized Internet where individuals own their own identities and can securely trade assets like money, securities, intellectual property, and art peer to peer. Made possible by blockchains, the foundational technology of bitcoin, Web3 promises the biggest shake up of business since the invention of double-entry bookkeeping in the Middle Ages. It is the Internet’s new frontier. In Web3 , award-winning author and technology investor Alex Tapscott provides a cutting-edge guide to the Internet’s next era. Covering everything from the metaverse and non-fungible tokens to DAOs, decentralized finance, and self-sovereign identity, this indispensable, forward-thinking book describes the building blocks and often hidden technologies that will be foundational to our cultural and economic progress.

Genres: Technology, Finance, Business, Economics, Nonfiction, Audiobook

336 pages, Kindle Edition

Published September 19, 2023

About the author

Alex Tapscott is the CEO of NextBlock Global a digital asset company. Previously, he worked for seven years in investment banking in New York and Toronto.

Reviews

[Ryan Manganiello · Rating 3 out of 5]

I liked the book because it was an enjoyable read, but I am well versed in the cryptocurrency space enough to know what is and what isn't a scam, and most of the cryptocurrencies and related companies the author mentions in this book are blatant scams.

Axie Infinity for example was intentionally designed to inevitably scam people, and it eventually fell to ruins as a disgraced mobile gacha game, yet the author plays its downfall off as a series of unfortunate events.

If you read this book, please be aware of the fact that most of the projects the author mentions are shady, and or possibly paid plugs.

[Don Tapscott · Rating 5 out of 5]

I may be biased but IMHO this is a spectacular book. Which probably explains why it's a WSF best seller.

In my view, there are several aspects of the book Web3 that set it apart from other technology books.👇🏻
1️. The book explains how Web3 is not just about crypto.

Most books related to blockchain these days focus just on crypto, but Alex has made it apparent that it’s not just money being digitized - all assets are being digitized through tokens, which is beginning to result in profound changes in our economy.

2. Alex is also the first to clearly explain the relationship between blockchain, crypto, and other technologies like AI, the Internet of Things (Iot) and Extended Reality (XR). He explains how all these are part of a new Web3 era.

3. The book presents a sweeping and context rich analysis of these technologies at this point in human history.

Alex’s has a deep background in history, finance, social thought, law, culture, economics, and, of course, technology. He was able to draw from his diverse experiences when writing Web3, which makes the book not only more profound but also more interesting!

4. Unlike some other technology books, Web3 is clear and well-written.

As someone who has authored 18 books and read dozens of technology publications over the years, I’ve noticed that most books that talk about tech tend to not be well written. Alex has a way with words and astonishing clarity in his writing that make Web3 an absolute pleasure to read.

5. The book has global appeal.

I’ve heard whisperings that translations for Web3 are already underway in several different languages. Blockchain Revolution, a book I co-wrote with Alex, ended up having 19 different translations and sold thousands of copies in languages other than English. I’m hoping this book will do even better than that!

Anyway, as an researcher and author in this space over 4 decades that’s my best guess as to why it's doing so well.

[Andrea · Rating 5 out of 5]

I won this book in a Goodreads giveaway. As a relatively young person working in tech (but without much web3 experience), I found this book to be extremely informative while remaining very approachable and digestible. This book gives a full overview of the history, basics, applications, and challenges of Web3 that are playing out in real time. I would recommend it to anyone interested in learning more about web3.

[Henggao Cai · Rating 5 out of 5]

Web3

This book is a good primer into web3. He articulately stated the risks, opportunities, and challenges of transitioning from web2 to web3. I was very interested in some of the current applications of web3 and his ideas on future applications. Reading this book is a good first step.

[Hanie Noor · Rating 4 out of 5]

“The Internet has already altered our world in profound ways. Now it is entering a new era that promises to transform all industries, society, and culture.”

📝Web3 represents the next evolutionary phase of the internet, characterised by decentralised protocols, blockchain technology, & a shift towards user empowerment.
—The World Wide Web (Web1) & Web2, largely revolved around centralised platforms, limited user control, & a business model reliant on user data.

Explores the transformative potential of Web3 & its impact on various aspects of society. Delves into evolution from Web1 & Web2, highlighting emergence of decentralized technologies, cryptocurrencies, & concept of true digital asset ownership. It covers diverse topics such as decentralised finance (DeFi), blockchain gaming, metaverse, & societal implications of Web3.

Tapscott are able to demystify complex concepts related to the future of the internet. Covers transition from traditional World Wide Web to emerging Web3 era—its historical context, technological underpinnings, & potential societal impact. Its real-world examples, anecdotes, & insights provide a practical understanding of the concepts, making it both informative & engaging.

I find it an insightful read especially for specialists working in the tech industry, its going to give valuable perspective on the disruptive forces and innovations brought forth by Web3–through a detailed exploration of blockchain technology, decentralized applications, & their implications for various sectors.

IMO professionals working in tech can gain a deeper understanding of the opportunities and challenges associated with Web3, gaining awareness and enabling a more informed decisions in respective fields. Also discusses strategic considerations for businesses & entrepreneurs looking to navigate the evolving landscape of the internet, making it a relevant & informative resource for tech specialists seeking to stay ahead in our rapidly changing digital environment.

[Igor Pejic · Rating 5 out of 5]

"Web3” by Alex Tapscott offers pretty much what the title promises: a captivating glimpse into the decentralized web's transformative potential on our society and economy. Tapscott's intricate analysis and engaging prose provide readers with a roadmap to navigate the complexities of blockchain technology and its profound implications.

Tapscott's adept storytelling combines real-world examples with insightful commentary, challenging readers to envision a future where industries, governance, and individual empowerment are fundamentally redefined by the decentralized web. Through a deep dive into the social, economic, and cultural ramifications of Web3, Tapscott prompts discussions on digital ownership, data privacy, and economic equality.

In "Web3," Tapscott crafts a compelling expose of a decentralized, transparent, and democratic internet landscape poised to revolutionize online interactions and value creation. With a blend of technical acumen and narrative flair, Tapscott inspires readers to embrace the potential of blockchain technology and Web3 in shaping a more inclusive and cutting-edge digital future.

Tapscott's exploration extends to the realm of decentralized ownership, shedding light on how Web3 is poised to revolutionize digital asset ownership and distribution. By delving into the democratizing potential of decentralized ownership models, Tapscott illuminates how blockchain technology enables individuals to have greater control over their data, content, and financial assets. This visionary perspective challenges traditional notions of ownership and empowers readers to reimagine a future where individuals have unprecedented sovereignty over their digital identities and assets, ushering in a new era of digital empowerment and autonomy.

This book stands as a thought-provoking catalyst for reimagining our digital society and technology landscape, urging us to seize the opportunities afforded by the decentralized web as we chart a course through the evolving digital terrain.
The original book review can be found here: https://igorpejic.substack.com/

[Laurie Wofford · Rating 5 out of 5]

Alex Tapscott's "Web3: Charting the Internet's Next Economic and Cultural Frontier" is a groundbreaking book that stands as a beacon for the technological revolution of our times. As a pragmatist and a builder in the tech space, I found this book to be an invaluable guide to understanding and navigating the complex world of Web3.

Alex's expertise shines through each chapter, making intricate concepts accessible and engaging. He doesn't just explain Web3; he invites readers to be a part of this exciting new frontier. The book is a perfect blend of insightful analysis and practical wisdom, empowering readers with the confidence and competency to thrive in this evolving digital landscape.

For anyone looking to grasp the full potential of Web3 and its impact on our digital culture and economy, Alex's book is a must-read. It's not just informative; it's a source of inspiration that will undoubtedly shape the way we think about and engage with the future of the internet.

[Alisa · Rating 5 out of 5]

Whether you're a student, an executive, an entrepreneur, an artist, a politician, or simply a concerned citizen, this book has something valuable to offer. The book's themes offer a glimpse into the myriad ways Web3 will impact our world—from redefining digital assets to empowering individuals with digital property rights to reshaping global prosperity. What sets "Web3" apart is its ability to simplify complex concepts through accessible stories and over 50 expert interviews. The book goes beyond merely explaining Web3's promise; it's a call to action—an invitation to envision a future where fairness, autonomy, and digital property rights prevail.

[Tannishtha Pramanick · Rating 5 out of 5]

As someone who formerly worked in DeFi, I found it frustrating that Web3's impact has often been presented in the context of just money. This book is different however - it does a spectacular job of explaining the broader impact of this new technology, how it came to be, and how its impact will extend beyond simply cryptocurrency. A great and thorough introduction for someone trying to get familiar with the topic!

[Alwin · Rating 3 out of 5]

Web3 is a comprehensive guide to the next Internet revolution, offering a clear consolidation of its current state and the challenges it faces. The book's strength lies in its ability to provide a generic yet insightful overview of Web3. It highlights the path forward, making it a valuable read for those interested in the decentralized future of the Internet.

[Ryan Nordheimer · Rating 3 out of 5]

Had amazingly enlightening perspectives about the future of the internet that I had never heard about. But this book is not for beginners and throws around so much tech jargin that at some points I felt like I was reading another language. Needed to break down more elemental concepts (e.g blockchain) better. And other concepts that he attempted to explain (e.g. DAOs) left me even more confused.

[Douglas Heintzman · Rating 5 out of 5]

This is one of those books that is not only data and example laden, but it provides you with an intellectual framework that helps you to see patterns in business and society and imagine how those patterns will shift as we adopt a new technology infrastructure.

[Olivier Dallaire · Rating 3 out of 5]

Decent book. Might be helpfull to revisit later on since this stuff will only get more and more important. Web 3 is the future and it is here to stay but this book was a lot of pretty hard terminology.

[Elmer Gomez · Rating 5 out of 5]

This is one of the best nonfiction books I've read. It is illuminating, well-researched, comprehensive without being mired in its own self-importance, and never boring. I've been enlightened about what Web3 is all about, including cryptocurrencies, NFTs, DeFi, and other technologies.

[Andrew Facciolo · Rating 5 out of 5]

This book makes the concepts and ideas surrounding Web3 understandable and digestible. Great read!

[Jef · Rating 1 out of 5]

Book is factually incorrect

TapScott has his own agenda with his dad. They have to be boisterous about blockchain because they make money from it.

Very poor read.

[Bryan · Rating 4 out of 5]

Good stuff here. A lot to build on. Will revisit.

[Stephen Kirsch · Rating 1 out of 5]

Did not finish

[Kate Li · Rating 3 out of 5]

The author tries to cover everything, but the logic and organization doesn't flow well nicely. I read this and "Read Write Own" by Chris Dixon one after another, and the comparison is so glaringly obvious.

[David · Rating 5 out of 5]

Giving this 5 stars as a great primer for those who are new to Web3. If you're already familiar with this space, there's probably not much new in this book.

Divided into 3 sections, the author does a fairly comprehensive job covering this space:

Part I: Disruptions
1: The Web Is Entering a Third Era
2: Blueprint for the Ownership Web

Part II: Transformations
3: Assets - deep dive into the core building block of Web3
4: People - impact that Web3 will have on users newly empowered with ownership of their assets online
5: Organizations - the new Web3-native organizations and how they’re transforming business and disrupting traditional enterprise
6: Decentralizing Finance and Digitizing Money
7: Gaming
8: The Metaverse
9: Civilization - how Web3 builds economic bridges online between distant markets, putting people and creators around the world on a more level playing field to fully realize their potential.

Part III: Leadership
10: Web3’s Implementation Challenges

I like how each chapter ends with a section on conclusion and takeaways.

[Charles Reed · Rating 2 out of 5]

42%

This book made me come away thinking oh so you're talking about gimmicks what are you trying to sell me instantly that was the entire impression of this book, how do you make a book this gimmicky like is it because you lost money on the cryptocurrency market I don't know man but this is a lot of futuristic talk which reminds me of when we said we were going to have jetpacks and find cars, well where the Dash is my flying car?

I cannot take this book seriously it gave me some interesting talking points and educated me about certain things that are happening in the world around me and that's why it got as many points as it did but this book makes web 3 sound like a scam, which it apparently isn't but the person writing this book is clearly in on a scam.

[Aaron Strouse · Rating 1 out of 5]

Wanted to read this book because I don’t understand a lot on this topic and I feel like I understand about as much after reading this book. I don’t think the author did a good job of explaining topics and the entire flow felt disjointed. I definitely think you need to have a better understanding of blockchain, and more before reading this book to appreciate the examples and use cases. The book felt extremely redundant in explaining capabilities. I couldn’t read the conclusion section because I was over this book. I would read a different book on Web3 before this one.